The initial Business Plan for HighBridge identified what it calls “the West Coast Corridor” for initial market penetration. This includes Nevada, California, Oregon & Washington, all of which are recreationally legal states. California and Nevada were primary targets, and remain so. However, as we all know, we are in an industry that is changing and growing rapidly. And with this change and growth comes new opportunity. Our sources tell us that soon Arizona and Florida will be joining the “club” of recreationally legal states. Geographics and the HighBridge network makes Arizona an extremely attractive option. Florida is speculated to be a huge recreational market and represents an opportunity for HighBridge to gain footing in the eastern part of the US. Each also presents HighBridge with the ability to enter a highly lucrative and less saturated market. As the HighBridge team weighs the possibilities, consider the following letter to HighBridge from the National Institute of Cannabis Investors (November 26, 2019).
Florida and Arizona Want to Join the Recreational
2020 is gearing up to be the biggest year for cannabis.
That starts with voters in Arizona and Florida potentially getting the chance to place historic votes to legalize recreational cannabis.
Already, there are projections that, by 2024, Arizona could generate over $700 million in recreational sales, with an additional $761 million in medical sales. Arizona could sell over $1.4 billion worth of cannabis in just a few years.
Not to be outdone, with just medical sales, Florida could become a $1.9 billion market by 2024.
NICI Staff Reports